Before its collapse, FTX had made inroads and investments into crypto-based gaming, and was a vocal supporter of the sector. Now what?
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The relationship between crypto and gaming isn’t always straightforward. Some gamers, and gaming companies, have rejected all things related to the blockchain and digital assets. They say the environmental considerations haven’t been fully addressed, and that turning games into speculative investment opportunities ruins the fun.
Others are cautiously optimistic, and are experimenting with in-game NFTs. And a smaller group of vocal crypto advocates is absolutely committed to making blockchain-based games happen. Among this committed, and vocal, minority was — well, FTX.
Earlier this year, FTX announced plans to start its own gaming unit — a platform that enables companies to launch their own tokens and NFTs. FTX has also worked closely with a handful of crypto gaming startups to expand its footprint in the sector. But in the aftermath of the FTX meltdown, many wonder what the future of those small companies may look like.
Bloomberg reporter Hannah Miller joins this episode to make sense of the impact the FTX meltdown has had on the gaming industry.
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This podcast is produced by the Bloomberg Crypto Podcast team: Supervising producer: Vicki Vergolina, Senior Producer: Janet Babin, Producers: Sharon Beriro and Muhammad Farouk, Associate Producers: Mo Andam and Ty Butler. Sound Design/Engineer: Desta Wondirad.
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